Hana Mining to raise $1.5 million for Ghantsi copper project

The net proceeds of the private placement will be used to fund on-going exploration of its highly prospective Ghantsi Copper-Silver Project. Hana said on Monday that some of the funds raised will also be used for increasing the number of drilling rigs on the property and to develop the property's mineralisation into proven, indicated and inferred resource categories.

The non-brokered private placement will consist of up to 30,000,000 units at a price of $0.05 per unit. Each unit will consist of one common share and one non-transferable share purchase warrant. Each share purchase warrant will entitle the holder to purchase one additional common share of the company for a period of two years from the closing date of the placement at a price of $0.10 per share.